Energy

A MoneySaver who switched away from British Gas to a rival energy provider has been charged £40 in exit fees – even though he completed his switch within the last 49 days of his energy fix, when exit fees should be waived.

More than a third of UK customers have been overpaying for their gas and electricity on a standard variable tariff (SVT) for at least three years, it has emerged.

Northern Ireland's largest energy supplier Power NI is to hike electricity prices by 5.6%, meaning the typical bill for those on its standard tariff will jump by £27/year.

About three million households on prepayment meters are set to see their energy bills drop after regulator Ofgem said it would tighten a price cap imposed earlier this year.

Flow Energy has confirmed it's set to increase the cost of its standard tariff by 10 % from 1 September, adding an extra £95/year to a typical household's dual-fuel bill.

British Gas has finally revealed its worst kept secret by announcing a 12.5% rise in electricity prices, with bills for a typical dual-fuel household on its standard tariff set to jump by £76 to £1,120 per year.

Co-op Energy is offering all existing customers including those with the GB Energy brand a "loyalty reward" of up to £150 until 31 July to stay with the firm and switch to its two or three-year fixed deals – but many are likely to save more switching to another supplier.

Thousands of British Gas customers have been paid a total of £1.1 million compensation for missed appointments.

Ebico customers who were moved to SSE for their gas and electricity need to check their bills now to avoid being stung by higher prices.

The energy regulator is to investigate British Gas over its switching terms after MoneySavingExpert.com presented evidence showing that some customers with fixes ending were wrongly told they'd have to pay up to £60 to switch.